Managerial ownership and corporate financialization

The article selects A-share non-financial listed companies from 2012 to 2021 as a research sample to analyze the relationship between executive ownership and corporate financialization. It is found that executive ownership inhibits corporate financial investment; compared to the proportion of short-term financial asset holdings, a rise in executive ownership has a more pronounced effect on the reduction of the proportion of long-term financial asset holdings; the higher the proportion of executive ownership, the lower the reduction of the proportion of financial asset holdings in state-owned enterprises than in private enterprises.